Licorice is root of Glycyrrhiza glabra, which is a widely used as medicinal herb. Licorice extract is produced by boiling its root. It is effectively used as anti-bacterial, anti-inflammatory, anti-diabetic, anti-fungal, anti-oxidant, anti-diuretic agent, and for skin whitening. Licorice is used as a sweetener in beverages and candies and also as medical herb, as a flavoring agent in tea and in confectionery. The licorice extracts market is witnessing a steady growth due to increasing demand for herbal products, pharmaceuticals products, and others. However, allergic reactions, vision problems, weight changes etc. are some of the restraining factors expected to adversely affect growth of the licorice extracts market.

Market Dynamics

Asia Pacific is expected to be dominant in the global market over the forecast period. This is mainly attributed to increasing demand for herbal medicines and in pharmaceuticals. In Europe, increasing consumer preference for natural ingredients in food and beverages drives growth of the licorice extracts market. Furthermore, demand for licorice from confectionery industry is also projected to witness significant growth owing to increasing consumer preference for sugar free items, driving growth of the licorice extract market. Also, growing production of MAG sweeteners and usage of licorice extracts in tobacco products is expected to boost growth of the market.

Key features of the study

• This report provides in-depth analysis of licorice extracts and provides market size (USD Mn) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2026–2033), considering 2025 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
• It profiles leading players in the global licorice extracts market on the basis of the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study include Norevo GmbH, MAFCO Worldwide LLC, FC Licorice, Zagros Licorice Co., Ransom Naturals Ltd., Aushadhi Herba, VPL Chemicals, Sepidan Osareh Co. and among others.
• Insights from this report would allow marketers and the management authorities of companies to make informed decisions regarding their future product launch, technology up-gradation, market expansion, and marketing tactics
• The global licorice extracts market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the licorice extracts market

 Market Segmentation

• By Product Type (Revenue, USD Mn, 2021-2033)
  • Food Grade
  • Feed Grade
  • Pharmaceutical Grade
• By Form (Revenue, USD Mn, 2021-2033)
  • Powder
  • Liquid
  • Block
• By Application (Revenue, USD Mn, 2021-2033)
  • Food & Beverages
  • Pharmaceutical
  • Tobacco
  • Others
• By Region (Revenue, USD Mn, 2021-2033)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • Central Africa
    • North Africa
• Key Players
  • Norevo GmbH
  • MAFCO Worldwide LLC
  • FC Licorice
  • Zagros Licorice Co.
  • Ransom NaturalsLtd.
  • Aushadhi Herba
  • VPL Chemicals
  • Sepidan Osareh Co.